AGCO Takes Action to Protect Massey Ferguson Brand, Responds to TAFE Letter to Shareholders

Oct 03, 2024

AGCO, a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today announced the company has delivered termination notices, with immediate effect, of its: (i) Massey Ferguson brand license agreement with Tractors and Farm Equipment Limited (TAFE); (ii) a distributor agreement with TAFE for the markets of India, Nepal and Bhutan; and (iii) an intellectual property license agreement with TAFE for the markets of India, Nepal, Sri Lanka, Bangladesh and Bhutan. These terminations follow inappropriate and unauthorized actions taken by TAFE that the company believes breached the various agreements.

AGCO also has commenced legal proceedings against TAFE in India related to the use of the Massey Ferguson brand following delivery of these termination notices. As a result of these notices, TAFE is no longer an approved licensee / user / distributor / seller, as the case may be, for AGCO’s Massey Ferguson brand or Massey Ferguson products for trade in India, Nepal, Sri Lanka, Bangladesh and Bhutan.

This termination (with immediate effect) is in addition to and distinct from the termination notices AGCO served on TAFE in April 2024 regarding the at-will termination of certain commercial agreements.

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